Transcript Document
A Journey of a thousand mile starts with one step… Planning!
What is the HiVE™
A Family Wealth Building System.
This is a multi-family wealth building concept that uses family cooperatives, family banks, trust owned life insurance and accumulation accounts to advance family wealth through multiple generations.
the HiVE™ | © 2013 BlackFamilyWealth.com
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Williams - Smith Case Study Family
James & Gwen Williams (Founders)
James Williams is William Williams’s brother. James & Gwen are the parents of Sharon Williams
• • • • • Age: James (80) Betty (79) Household income: $80,000/yr Household expenses: $40,000/yr Net worth: $2500 (assets have been moved to family trust) Monthly Trust contribution: $2,000
Profile: James died shortly after setting up the family wealth plan. He left a $1,000,000 insurance death benefit to the family trust. Gwen has transferred $800,000 in assets to the trust, including the house she is currently living in.
the HiVE™ | © 2013 BlackFamilyWealth.com
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Williams - Smith Case Study Family
Mike & Carole Smith (Manager)
Mike is married to the daughter of William & Doris William, and the sister of Bill Williams. Yvette introduced the Smith name to the Colony
• • • • • Age: Mike (46) Carole (47) Household income: $150,000/yr Household expenses: $130,000/yr Net worth: $260,000 Monthly Trust contribution: $750
Profile: Struggling middle class family, one paycheck away from financial ruin. Cash reserves are weak, and they have no health insurance. The trust owns $500,000 life insurance policies on each. Because of some recent financial hardship, the trust is currently paying their monthly mortgage payment for a year to allow them to build up a comfortable level of cash reserves and retirement savings. They have the opportunity to supplement their retirement income with up to $25,000 per year from the trust.
the HiVE™ | © 2013 BlackFamilyWealth.com
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Williams - Smith Case Study Family
Sharon Williams (Manager)
Sharon Williams is the daughter of James & Gwen Williams, and the cousin of Bill Williams
• • • • • Age: 40 Household income: $60,000/yr Household Expenses: $51,000/yr Net worth: $100,000 Monthly Trust contribution: $500
Profile: Commission income (not steady). Single mother of a special needs child; and has a lot of healthcare related debt. The trust has a $1,000,000 life insurance policy on Sharon’s life, and purchased her home to avoid foreclosure. She will buy it back for the loan amount when she is financially able. Also the trust paid off her daughter’s medical bills.
the HiVE™ | © 2013 BlackFamilyWealth.com
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Williams - Smith Case Study Family
Malik & Toni Smith (Shareholder)
Toni Williams-Smith is the Granddaughter of William & Doris Williams, and the daughter of Mike & Carole Smith
• • • • Age: Malik (23) Toni (22) Household income: 58,000/yr Household expenses: 60,000/yr Net worth: -$25,000
Profile: Newlyweds, short on everything. They need help getting their first house, so the trust loaned them the money to put a 50% down payment on a starter home. The trust has a $1,000,000 on each of them.
the HiVE™ | © 2013 BlackFamilyWealth.com
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Williams - Smith Case Study Family
Lesa Smith (shareholder)
Lesa is William & Doris granddaughter, and Mike & Carole’s daughter. Lesa and Toni are sisters
• • • • • Age: 25 Household income: $75,000/yr Household expenses: $48,000/yr Net worth: $37,000 Monthly Trust contribution: $500
Profile: Young attorney, with excellent money management skills. She is very ambitious and family oriented. She is next in line to move into the Managing Director position in about 13 years. The trust has a $1,000,000 on Lesa.
the HiVE™ | © 2013 BlackFamilyWealth.com
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Williams - Smith Case Study Family
Gwen Williams
Widow of James Williams
William, Sr. & Doris Williams
Director
William, Jr & Yvette Williams
Managing Director
Malik & Toni Smith
Shareholder
Lesa Smith
Shareholder
Sharon Williams
Manager
Mike & Carole Smith
Manager
the HiVE™ | © 2013 BlackFamilyWealth.com
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Williams - Smith
Family Trust Financial Profile Assets $700,000
Apartment Building
$500,000
Annuities
$250,000
Stock Portfolio
$250,000
Cash Management Account
$250,000
Houses
the HiVE™ | © 2013 BlackFamilyWealth.com
$1,950,000
Total
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Williams - Smith
Family Trust Financial Profile
$12,000.00
Monthly Income
$12,000.00
Monthly Expenses Family contributions ------------- $4,750.00
Rental income --------------------- $6,250.00
Investment income--------------- $1,000.00
Life insurance premium----------------- $2,725.00
Group Health insurance premium---- $3,000.00
Mortgages---------------------------------- $3,275.00
Family support----------------------------- $2,000.00
Savings & Investments------------------- $1,000.00
the HiVE™ | © 2013 BlackFamilyWealth.com
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How the HiVE™ works
• • • •
The Hive contributes through the community cooperative trust to:
Credit Unions Small Business Investment Corporations Health Insurance Cooperatives Endowments Step 1: An Individual or Unit funds the family or Cell Step 2: A Family Cell funds the Multi-famliy Trust or Colony Step3: A cluster of Colonies fund the Hive. A Hive can be a church, organization or any organized community the HiVE™ | © 2013 BlackFamilyWealth.com
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How the HiVE™ works
Family Unit Colony of families Hive made up of several colonies Baker Turner family Colony Johnson Clark family Colony
The Hive is funded by the Colonies Black Family Wealth Building Hive
Wilson Smith family Colony Stevens Robertson family Colony Miller Conway Family Colony Jones Anderson family Colony
The Hive funds the Cooperative Trust
the HiVE™ | © 2013 BlackFamilyWealth.com
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How the HiVE™ works
Each adult in the Cell or family leaves at least $1,000,000 in life insurance proceeds to the next generation.
$1,000,000
• • • • • • Each Cell or family leaves at least $1,000,000 in life insurance proceeds to The Colony.
Each Colony leaves at least $1,000,000 in life insurance proceeds to the Hive.
Each generation is expected to double the families assets at a minimum Family wealth is guaranteed and perpetual. The key is on going financial education and advice for the Cells, the Colony and the Hive BlackFamilyWealth.com provides financial education through its Financial Planning Institute Financial advice and Wealth management is provided by Marshall Wealth Management, LLC a registered investment advisory firm the HiVE™ | © 2013 BlackFamilyWealth.com
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Thank you
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the HiVE™ | © 2013 BlackFamilyWealth.com